Financial planning for Americans in Geneva.

Geneva pulled you in for the role — UN, WHO, WTO, a private bank on the rue du Rhône, a hedge fund or commodity trading house in Cologny, or a senior pharma move. The pay is excellent. The cross-border wrinkles are real. Your Pillar 2 is your biggest single asset, and almost every fund inside it is a PFIC. Geneva's wealth tax is among the highest in Switzerland — with no US credit. Your US broker is nervous about your Champel address. We build for Americans in Geneva — your US side stays clean, your Swiss side gets done properly.

Cross-border financial planning and US investment management for Americans living abroad, typically with $1M+. Most clients have $1M+ in investable assets; we also work with selected households from $500K.

Written and reviewed by Anthony Walsh, Selanis. Last reviewed 2026-06-30.

Key issues

Pillar 2 funds are PFICs
Geneva's high cantonal wealth tax (no US credit)
Lump-sum vs lifetime pension at retirement
Forfait fiscal doesn't work for US citizens
Quasi-résident & cross-border commuter rules
US brokers closing Swiss-address accounts

Your Pillar 2 is the largest pot you'll ever own here — and almost no one has modelled how the US will tax it

For senior US earners at UBS, Pictet, Lombard Odier, UBP, Mirabaud, Trafigura, Cargill, Vitol, Mercuria, Procter & Gamble, Richemont, or as a P-staff at the UN, WHO or WTO, the 2nd pillar (LPP / BVG) often becomes the single largest line on your balance sheet — CHF 500k to CHF 3M+ by mid-career. The US recognises the pension wrapper under the treaty, but the underlying Swiss collective funds inside are PFICs requiring annual Form 8621. The lump-sum vs lifetime pension choice at retirement is one of the most expensive cross-border decisions of your life.

If you're P-staff at the UN, WHO or WTO, the IRS still wants your income and almost nothing the Swiss system thinks is yours actually is

UN salary is exempt from Swiss tax for the international civil service, but US citizens lose the §893 exemption that protects other UN nationals — the IRS taxes you on the full salary, and there's no Swiss tax to credit. The Pension Fund (UNJSPF), After-Service Health Insurance (ASHI), and any rente choice at retirement need cross-border modelling that almost no UN-facing tax preparer or local advisor does properly. Geneva's quasi-résident status and the special UN tax-reimbursement program (for some agencies) add another layer.

Geneva has one of the highest cantonal wealth taxes in Switzerland — and the US gives you zero credit for it

The canton of Geneva levies one of the heaviest annual wealth taxes in the country on your worldwide net assets, on top of the city portion. Your investment portfolio, your US brokerage, your crypto, your property equity, your private holdings — all in. The US has no wealth tax and gives no foreign tax credit for it. For a family in Geneva with CHF 5M of net assets, this is real money every year. Debt deduction, pension structuring and the location of business equity are the real levers — most clients arrive with none of them used.

Geneva's lump-sum tax regime is famous in Europe — and for a US citizen it almost never delivers what it promises

The forfait fiscal (Pauschalbesteuerung) — taxation on lifestyle expenditure rather than worldwide income — is available only to non-Swiss nationals not gainfully employed in Switzerland. For a wealthy retired French, UK or German national it can be transformative. For a US citizen it's structurally undermined: the US still taxes worldwide income and credits only Swiss tax actually paid — and the forfait usually produces less Swiss tax than the US would otherwise credit, so the US side simply recaptures the gap. We see Americans signing into forfaits expecting magic and getting almost no benefit. The decision needs both-sides modelling before any canton signs the ruling.

The Pillar 2 lump-sum vs lifetime pension choice is the most expensive day of your Geneva retirement — plan it 10 years out

At retirement you can take Pillar 2 as a one-time capital payout, a lifetime pension (rente), or a mix. Switzerland taxes the lump sum at a preferential separate rate; the rente is taxed as ordinary income. The US treats the lump sum as a pension distribution but still gets first taxing rights as your citizen. Geneva's higher cantonal rates make canton-of-residence at payout (Geneva vs Schwyz vs Zug) a six-figure question. We model both sides over a 10-year horizon, not at the last meeting before you sign.

Your Pictet, UBP, Lombard Odier or Mirabaud banker will pitch a discretionary mandate — and almost every fund inside is a PFIC

Geneva private banks run beautiful mandates full of Swiss-domiciled and Luxembourg-domiciled funds. Every one of them is a PFIC for a US person, with Form 8621 required annually and IRS default treatment that can produce a US tax bill larger than the gain. Many of the structured products and unit-linked life policies they offer to international clients stack another US life-insurance problem on top. Stay US-domiciled. Always.

Living in France and commuting to Geneva — or the reverse — adds a third tax system to your stack

Many Geneva expats live across the border in Annemasse, Saint-Julien, Divonne or Ferney-Voltaire. The frontalier rules, Geneva's source taxation, French residency tests and the 2023 telework agreement between France and Switzerland all interact. For a US citizen this becomes a three-system problem — and the saving clause means the US still claims first taxing rights on you regardless. We map the actual footprint before any tax office does.

Geneva private banks have quietly stopped taking new US clients. Your US broker is closing your account too.

Pictet, Lombard Odier, UBP, Mirabaud and most Geneva banks have either shut their US-person desk or pushed the minimums very high. UBS (post-Credit Suisse) has tightened. On the US side, Schwab, Fidelity, Vanguard and Morgan Stanley have all restricted or closed accounts for US persons with a Swiss address. Interactive Brokers, Schwab International (for qualifying clients) and a small bench of Swiss setups genuinely work — the migration has to be sequenced.

If your spouse isn't a US citizen, your US estate plan probably doesn't protect them

The US federal estate tax applies to US citizens worldwide, but the unlimited marital deduction does not apply if your spouse isn't a US citizen — a QDOT trust is typically required to defer the tax at first death. Geneva exempts spouses and direct descendants from cantonal inheritance tax; the US–Switzerland estate treaty coordinates the two sides, but only if your estate plan was actually drafted with both in mind.

Frequently asked questions

I'm at the UN / WHO / WTO. How is my income taxed if I'm American?

Your salary is exempt from Swiss tax under the headquarters agreement, but as a US citizen you lose the §893 exemption that protects other UN nationals — the IRS taxes your full salary and there's no Swiss tax to credit. We model UNJSPF, ASHI, the tax-reimbursement program where it applies, and the rente vs lump-sum choice at retirement.

Is my Pillar 2 really a problem if I'm American?

The pension wrapper is recognised by treaty, but the underlying funds inside are PFICs requiring annual Form 8621. The real money is the lump-sum vs lifetime pension decision at retirement — we model both sides 10 years out.

Can I use the forfait fiscal in Geneva or Vaud?

Only if you're a non-Swiss national not gainfully employed in Switzerland. For a US citizen the saving clause usually neutralises most of the benefit, because the US recaptures whatever Swiss tax you saved. We tell you honestly before any canton signs the ruling.

How bad is Geneva's wealth tax compared to other cantons?

Geneva is among the highest in Switzerland. The US gives no credit for it. Debt deduction, pension structuring and the location of business equity are the real levers — and most clients arrive with none of them used.

I live in France and commute to Geneva (or vice-versa). Does that change anything?

Materially. Frontalier rules, Geneva source taxation, French residency tests and the 2023 telework agreement all interact. For a US citizen this becomes a three-system problem and the saving clause still gives the US first taxing rights. We map the actual footprint before any tax office does.

My Pictet / Lombard Odier / UBP banker is pushing a discretionary mandate. Should I?

Avoid it. Almost every fund inside is a PFIC for a US person, and the structured products and unit-linked policies sometimes packaged in add a US life-insurance problem. Stay US-domiciled at a custodian that actually supports US persons.

What happens with my US brokerage when I move to Geneva?

Schwab, Fidelity, Vanguard and Morgan Stanley have all restricted or closed accounts for US persons with Swiss addresses. Move before they force-liquidate. Interactive Brokers and Schwab International work for qualifying clients. We sequence the migration alongside any Pillar 2 / 3a events.

Do I need a QDOT for my non-US spouse?

If your spouse isn't a US citizen, the unlimited marital deduction doesn't apply for US federal estate tax. A QDOT is the standard structure to defer the tax at first death. Combined with the US–Switzerland estate treaty, we draft this with a Geneva notary and a US estate attorney together.

Do you actually file my US or Swiss taxes?

No, deliberately. We coordinate a US CPA and a Geneva fiduciaire into one strategy. Keeping tax prep separate from advice keeps everyone independent.

What does engagement cost?

We start with a 45-minute Complimentary Fit Conversation. Engagement starts at $3,000 for a focused planning project, with ongoing management on a tiered fee from 1.00% on the first $1M, falling to 0.30% above $10M. No commissions, no retros, no product revenue. Ever.

Fees

Blueprint $3,000 and Life $8,000 (flat planning fees). Private Wealth Management on a tiered, blended schedule starting at 1.00% on the first $1M and declining to 0.30% above $10M. Fee-only: no commissions, no product payments, no lock-in. All fees

Book a Fit Conversation — Complimentary Fit Conversation (45 min).